Bloomberg: Nine whale wallets dominate Polymarket's multi-billion dollar disputed ruling

According to a Bloomberg report, the adjudication of disputed contracts on Polymarket is being dominated by a small number of UMA holders. Bloomberg statistics show that of the more than 6,400 addresses that participated in Polymarket dispute adjudication votes over the past three years, just nine large wallets contributed about half of the UMA voting power and were on the winning side in almost all disputes. In April 2026, approximately 230 contracts with a total trading volume exceeding $1 billion entered the dispute adjudication process, representing less than 1% of all Polymarket contracts, but the frequency of disputes increased with the trading volume. Some traders criticize the mechanism for effectively giving anonymous whale a "fact-based decision-making power" driven by economic interests, and Polymarket and Risk Labs, which is responsible for UMA, have shelved their original promise to improve the process.